ADVENTIS FMC LEVEL 1 With Correct Solutions 2024

ADVENTIS FMC LEVEL 1 With Correct Solutions 2024 financial statement communicates what? - Answer -- financial condition - results of operations - various other activities of an organization how board of directors use financial data... - Answer -- hold management accountable - make board-level decisions about corporate strategy how company management uses financial data... - Answer -- measure performance - make strategic, operating and financial decisions how creditors use financial data... - Answer -- measure creditworthiness - liquidity - bankruptcy risk how investors use financial data... - Answer -make decisions on buying/selling equity investments how acquirers use financial data... - Answer -- determine valuation - make investment decisions how regulators use financial data... - Answer -determine whether company is operating according to regulations/law what does the income statement present? - Answer -results of operations over a period of time what is the purpose of the income statement? - Answer -to show whether the company made or lost money during the period reported what does the income statement indicate? - Answer -how revenues are translated into net income through subtracting expenses revenue (sales) - Answer -amount charged for the delivery of goods or services cost of sales (cogs) - Answer -- direct cost of producing revenue - Ex: raw materials, direct wages, etc. gross profit - Answer -- revenue - cog